A luxury real estate brokerage is expanding its Las Vegas presence in one of two new leases announced at a Summerlin office building.
Douglas Elliman and the Snell & Wilmer law firm have leased at 1700 Pavilion, a 10-story office building that opened earlier this year, according to a news release from developer Howard Hughes Holdings.
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Snell & Wilmer will occupy the entire seventh floor of 1700 Pavilion, which is about 27,500 square feet, and Douglas Elliman will occupy a suite that is just under 4,000 square feet, according to the news release.
Douglas Elliman is expanding its presence in Las Vegas with the Summerlin office, which is about three times larger than the firm’s current space near the 215 Beltway and South Town Center Drive, said Stephen Kotler, CEO of brokerage for Douglas Elliman’s western region. The expansion for Douglas Elliman — which started its Las Vegas operation in 2022 — reflects a higher demand for the luxury real estate in the area, he said.
“We have expanded to markets where our clients are,” Kotler said.
Douglas Elliman has quickly grown from having about 30 brokers in 2022 to now having about 100 brokers, Kotler said. He also said the high migration of Californians to Las Vegas as well as the surge of professional sports teams in the area and the Brightline West high-speed rail project moving forward is making Las Vegas a fast-growing luxury real estate market.
“Las Vegas is becoming the center of sports and entertainment in the country like no other city,” Kotler said.
The Douglas Elliman office will be a “showcase” space for its Las Vegas clients and the firm is currently building out the office to match the design of other Douglas Elliman locations in the country. The buildout should be completed by mid-2024, Kotler said.
He said 1700 Pavilion for the new office was the “obvious choice” for the firm because of its proximity to the many luxury homes in the Summerlin area and because of the brokerage’s extensive working history with Howard Hughes. Kotler also said being in Downtown Summerlin and within walking distance to many restaurants and retail options as well as the Las Vegas Ballpark is a big plus for attracting brokers to work for the firm.
Snell & Wilmer has been operating in Las Vegas since 2001 and its space at 1700 Pavilion will be the center of operations for about 40 attorneys based out of Las Vegas, according to a spokesperson for the law firm.
With these new deals, the 1700 Pavilion building is now 90 percent leased, according to the news release from Howard Hughes.